Ratings

Nepal Quake Impact ‘Minimal on Global Reinsurers;’ Locally Severe: A.M. Best

A.M. Best’s analysis of the damages caused by the earthquake that struck Nepal on April 25, 2015, describes the “significant property damages and fatalities in the Himalayan country.” However, no accurate assessment of then insured losses has yet been completed …

Best Affirms Ratings of XL and Subs; Removes from Under Review

A.M. Best has removed from under review with negative implications and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a+” of the ongoing property/casualty (P/C) subsidiaries of XL Group plc, “based on …

S&P Revises Outlook on Fairfax Financial to Stable; Affirms Ratings

Standard & Poor’s Ratings Services has revised its outlook on Fairfax Financial Holdings Ltd. to stable from negative. At the same time, we affirmed our ‘BBB-‘ long-term counterparty credit rating on Fairfax and its ‘A-‘ long-term counterparty credit and financial …

Bermuda Sovereign Downgrade Does Not Affect Bermudian (Re)Insurers: S&P

Standard & Poor’s Ratings Services Made clear that despite its April 28 rating action on Bermuda, “its counterparty credit and financial strength ratings on all Bermuda-based (re)insurance companies are unchanged.” S&P noted that it currently rates many (re)insurers in Bermuda …

Willis Ratings ‘Not Affected’ by Gras Savoye Proposed Acquisition: S&P

Standard & Poor’s Ratings Services said that its ratings on Willis Group Holdings plc (BBB-/Positive/–) “are not affected by the company’s proposed acquisition of the remaining 70 percent that it does not already own of French-based insurance broker Gras Savoye …

Climate Change to Worsen Nat Cat Impact on Creditworthiness: S&P Report

Standard & Poor’s Ratings Services has issued a report warning that, “while recent history shows that natural catastrophes may have not been a major rating factor on corporate credit quality in the past, their effect in the future may increase …

Former S&P Europe Insurance Head Clemens Joins Litmus Analysis

Litmus Analysis announced that Karin Clemens, the former head of S&P’s European insurance rating practice, is joining Litmus. She “will bring even further experience in ratings to the Litmus team, working across the full range of Litmus offerings and also …

A.M. Best Affirms Ratings of Third Point Reinsurance & Subsidiaries

A.M. Best has affirmed the financial strength rating (FSR) of A- (Excellent) and the issuer credit rating (ICR) of “a-” of Third Point Reinsurance Company Ltd. (TPRCL) (Bermuda) and Third Point Reinsurance (USA) Ltd. (TPRUSA) (Bermuda). A.M. Best also has …

S&P Removes AXIS, Partner Re from Credit Watch; Affirms Ratings

AXIS Capital Holdings Ltd. And PartnerRe Ltd. Ratings Affirmed, Removed From CreditWatch Negative; Outlook Stable Standard & Poor’s Ratings Services announced that it has affirmed its ‘A-‘ long-term counterparty credit ratings on Bermuda-based AXIS Capital Holdings Ltd. and PartnerRe Ltd., …

Fairfax Financial to Benefit From its Acquisition of Brit plc: Moody’s Report

The proposed acquisition of Brit plc by Fairfax Financial Holdings is “credit positive” for Fairfax, according to Moody’s, which noted that the deal will significantly boost Fairfax’s underwriting capacity at Lloyd’s in a recently published report. Also citing the benefits …

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